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insiders are selling sherman buildings. and it is insiders. and i like it. e-mail took the happy pill. keep it right here. number one brock retus with cheryl casoney and carbin in. and governor mitt romney's campaign trying to take his attention away with a this. this is pooling resources. and i actually believe in redistribution at least in a certain element to make sure that everybody has a shot.
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those words pose a present day threat to everyone's bottom line. i am cheryl casone. wish to wishin in. >> we have tracey and john and joining us our buddy christian dorsey is with us . welcome to all of you. johnathon, i want to start with you. we redistribute wealth we all lose money how so. >> look at statistics. what is the redestruction brought? median income come down in 49 of the 50 state unemployment up and food stamps up a stagnant economy. why does redistribution fail? it is evil and i don't think the president's philosophy changed. the president is saying he has the right to treat you like chum and all wealth is public and he can send it off to dead beat homeowners. who ever he sees fit.
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>> wayne, u.s. incomes fell as well. and really in the last couple. can we may be going in the wrong direction. >> and that is the fact that somehow it is written that the government has a right to coerce me and deliver it to some autoworker in ohio. if i want to make a donation. why don't i make it to this guy. why is the government appoint giving it to this person? it lessens competition. it is it an income conversation we had with you. if you are taking away money from the top tier earners they are not hiring new workers and they are staying stagnant. do you buy the argument at this point.
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>> no, incomes have been falling over a deckicate. we are talking about a deck cade long problem. the idea of distributing. and the direct spending that you dekraai amounts to a certain level of federal spending and tax expenditures that we forego by giving money to people who are wealth yecorporation and just because spending you don't see that on the balance sheet. >> christian is not not wrong. it is not just the rich that have to reit is the middle class as well. the middle class making ever upony i. that's what they were make nothing the mid-90s and yet, we purchase has gone up from the silly little dance classes that i pay so awn to a gallon of milk.
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that has gone up and none of our wages have. you are redistributing the middle class. it is not fair and not making the economy grow . just because it is a 10 year problem doesn't mean we keep doing it it has to be fixed. >> john, next four years of president obama for instance we'll have more of the same and programs that rethe wealthy. he said that. >> yeah, especially the last two years which is a fetal congress and administration. these guys can't get along. christian you are my friend but you can't lump us all in a one statement. redistribution goes the other way as well for the last decade and more. we have killed the middle class. we have lowered rates with the fed policy . that helps the wealthy and poor people can't get credit. look at tax code.
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it favors the big companies. that's one of the reasons why the middle class is being squeeze distribution is going to the wealth. >> think what you are advocating with redistribution. you are abdicating your ownership of someone's else's life. you don't own the product of your labor. i know what to do with it. it doesn't matter the middle class or solar or green class or anyone else. it is all we are in it together philosophy that destroys the economy and it is the philosophy of socialism. >> i don't like it at all going either dreck. but the middle class is being squeezed. we have politicians up by the rich and corporation. >> no, no, no. >> johnathon hold on they are the job creators we are talking about. christian. i didn't let you to respond to
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john. i apologize to you. if you look at the unemployment rate it has risen. is that is a data that we are looking at. you don't think it is a fair argument to say we have been going after the wealthy and they are pulling back on spend hiring. >> but see, cheryl, the great recession was call would a great recession for a reason. it was a big deal. since then we have not seen adverse policiless affecting the income of wealthy woman. president obama would like some but hasn't happened yet. to describe redistribution as a cause of current malaise is not accurate . the whole idea that redistribution is taking something that does not give value to the economy is wrong. many of the reasons that we have so many of the programs that we have is providing an ability for people to participate in the economy. >> wayne, there is a fear there. you hear many small business
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owners coming up and saying i am afraid to hire and i don't know what my taxings are going to be. that is my point here, wayne. >> it may be. i am saying something more fundmental here. we are violating by saying that someone has the right to come in and reach his hand in my pocket and take my money and give it to someone against my will. therefore, i worked hard and why does a government have a proprietary to come over and take it and give it to these guys. i am not a autoworker and the country didn't benefit but just this guy. and so let me finish, please. every time the president talks about general motors and those people. he never talkford who never the money. >> and you are right. >> you are both right. >> it comes back to john's point in the start of the show. anyone in the government to decide what i want to do with
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my hard earned dollars. it is my belief to give it to whomever i want. i don't want a silly government who can't figure out how to get to the bathroom to determine who will get the money i worked hard for. >> you want facts go to look at corporate tax code and amazon and yahoo and google and what they pay in a corporate tax credit. they are not going after the rich. they are taking money from the rich and paying high teen rate and a small business in america pays 35 percent because they don't have the money to buy off politicians. they have empty rhetoric. they are taking campaign money from the rich. >> agreed. >> you got 10 seconds. >> before you redistribute the wealth, you have to create it. and that's what wealthy individuals do. they are the ones and the economy is hurt most by the president's policies. >> great discussion.
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and so coming up. >> we are six and we are not going. ha. >> i mean -- >> tension passengers, your flight is cancelled because of a pilot sick out. this is threatening to send air fares higher? >> and a state pension and double dipping and taxpayers flipping . to the military, and commitment is not limited to one's military oath. the same set of values that drive our nation's military are the ones we used to build usaa bank. with our award winning apps that allow you to transfer funds, pay bills or manage your finances anywhere, anytime. so that wherever your duty takes you, usaa bank goes with you. visit us online to learn what makes our bank so different. to compete on the global stage. what we need are people
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>> it is a sick out that is making travelers sick and maybe the economy, too. american airlines cancelling hundreds of flights this week mainly because pilots are calling in sick over a union contract dispute. tracey you say it is unhealthy. >> you are taking your is job for granted and that is bananas for me. the consumer will never get a
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full refund. on the business side and i don't get to the hotel and not eat at the restaurants and the affects on the economy for selfishness and hurts us all. >> i don't want to travel if i was an american airlines customer. i will not be there. >> whether it is american airlines or anyone else. you allow things to get too big. we have the auto industry. it is big government and big labor and big and they are all in cahoots it is a facist definition of a economy. when it fails, it hurtz everybody. >> christian i don't want to pick on just american. but hostess under a despute. if i don't get a deal on the
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table i will turn it down. we can't lose our twinkies. >> it might be good for the obesity and health care epidemic. but the american airlines thing. it is an infor a lot of travelers. but the question is how large. it is only affecting one percentage of the flights. it is really not a huge deal. but the larger issue why can't they come to an agreement with its pilots. it was able to do so with eight of the nine unions part of the work force. i would think that they would want to get it rectified. >> pilots to be fair are the group that has caused american the biggest headaches when it comes to the contracts. >> pilots have done this sick out and done it before. absolutely. >> they have done it for
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years. john lay filed that hit to the economy is important. but you have people sitting there and they don't have jobs right now and you have huge union disputes when they are not. >> so did wayne but he flies private. his big plane still flies. christian is right as well. the problem has gotten. you have ineptmanage a -- management. the unions can ask for whatever you want. you have management giving them what they can't afford and use bankruptcy to get out of the contract. they shouldn't got into it. it goes back to management. >> but, management trying to comply with who? john? the unions. look what they have done to airline industry and steel and
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schools and auto industry. and recently boeing, hostess. what private business gets in bed with a union . pilots and mechanics try to slow production of a company and hurt a company? how much near nealistic can you get than emploes trying to sabotage their own company. that's what unions domination of a industry and only growing in a public sector. >> christian, that's why i brought up the issue of hostess and not just american. american is a company. they could disappear, that is a possibility here. hostess could disappear. i go back i would be sad about the twinkie but they may be gone. >> union workers don't want that as well. you have no labor if people don't have jobs there. is an incentive for labor to work together. they will not over unnecessarily. eight of the nine unions
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american worked with reached an agreement. if not unions working with management. the auto industry would seize to itself. >> the only reason gm is existing now is the union got special treatment from the president. don't tell me if you don't support union don't get anything. they get government favors and they are in bed with the government. >> that spes time and energy and management wasted to try to get through the negotiations and you are right. shame on american. 62 percent of the flights are on time as compared to the rest of the industry. i have no idea. the union members keep come asking for more. it has to stop. >> this sick out is a legitimate fire them. it is that simple. this goes back to inept management >> we will have to
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warn wayne rogers that we need a ride on the jet. >> it is huge. >> let me show you my jet. all right. and coming up. taking extra dips from taxpayer and states go broke. and getting public session. time to clip the double dips . [ mujahid ] there was a little bit of trepidation, not quite knowing what the next phase was going to be, you know, because you been, you know, this is what you had been doing. you know, working, working, working,
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working, working, working. and now you're talking about, well you know, i won't be, and i get the chance to spend more time with my wife and my kids. it's my world. that's my world. ♪
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on >> hello everyone. i have a fox new alert out of benghazi, libya. two people were kill would in
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a violent protest. this time the protest are aimed at the extremist group that were aimed at the u.s. embassy attack. we learned that guards may have been involved in the attack. senator john mccain what he describes president obama leading from behind. meanwhile, the campaign for the white house focused on the campaign event in wisconsin. state democrats admit it is a toss up . gop cand date paul ryan talking about his rescue plan . one with the help of jeb bush and the other in orlando. more on this and top stories coming up on america's news headquarters, join us. >> another lawmaker double dipping. collecting a pension and earning a taxpayer funded
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salary. dozens of lawmakers are doing the same thing as their states are drowning in debt. >> the congress set themselves in a special ledged class. at a are setting themselves up to take call of the money they can get. you mentioned lloyd. she has a net worth in excess of enfil one and she's taking a pension plan right now. that is outrageous and they ought to vote them out. >> tracey, new jersey numbers. in new york. you have 15 straight legislators that are double dipping. >> i am sure they are in jersey too. and they are collecting multiple pensions and all we do is talk about how broke we are. it is a double standard and
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talking about reing wealth. maybe that will help a bit. >> christian, you have a funny look. >> this happens everywhere. a it is a huge problem it is simple to fix but reliog legislators to fix it. that is a fools folly. i wish people would follow the example of romney who decided to forego a public salary since he had wealth that made that meaningless. >> it is not the problem of salary. it is peanut. i am not worried about a $100,000. i am worried about the power they wield and entitlements they support and it costs the economy more than 150,000. i would rather pay them more to do less or the amount of regulation they cut.
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>> john, pay them more to do less? that is not a bad idea? >> i am with wayne. i rather not pay them at all . send them at home. christian is right. this system is broke. the system itself. and politicians have set up to benefit themselves. one thing worse is spiking. it is when they allowed the last year to work extra hours to get a better pension. it is killing public pension and set an example by lawmaker who is are supposed to set a example. throw them out. >> way to lead by examine people in new york and california. don't want to just picot east coasters. christian dorsey, thank you for joining us. >> everybody, coming up. lights and camera and health care and hollywood getting tax dollars to promote the health care law. is it proof that the entire
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law should end up on the cutting room floor. copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners.
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>> it is time for what i need to know for next week, tracey. >> apparently your tax dollars going to promote obama care on tv shows like modern fama fam and grey's anatomy. >> wayne rogers. >> i think jeffries is going to recovery like the economy is. it is an envisionment banking term. >> johnathon? >> being contrary means taking risk and take in a smart way. i ownm&m. they are distressed part of the world and industry and they have a 10 percent yield and will go higher from here. >> john? >> i am going to africa to climb mount kilimanjaro . to raise money. cabela is a great

Cashin In
FOX News September 22, 2012 8:30am-9:00am PDT

News/Business. A practical look at money management. New. (CC)

TOPIC FREQUENCY Us 5, Wayne 3, America 3, John 3, Christian Dorsey 2, Wayne Rogers 2, Tracey 2, New York 2, Johnathon 2, Mujahid 1, Nealistic 1, Fama Fam 1, Mitt Romney 1, Brock Retus 1, Cabela 1, The Union 1, Devry University 1, Gm 1, Boeing 1, Cisco 1
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